Gould, Steven A. - Plainview, NY

Under the automatic disciplinary provisions of the Institute’s bylaws, Mr. Gould’s AICPA membership was terminated, effective April 25, 2013, in connection with the Securities and Exchange Commission’s disciplinary action. Specifically, the SEC barred Mr. Gould from association with any broker, dealer, investment adviser, municipal securities dealer, or transfer agent. This decision was based on the SEC’s findings that while Mr. Gould was the CFO of a “Company“, he knew, or was reckless in not knowing, that the returns the “Company” were generating were not adequate to meet the funds’ obligations; account statements that he prepared misrepresented the returns of the “Company’s” funds; he was aware of the extensive commingling of assets among “Company’s funds; he facilitated the misuse of funds from a reserve account that was to be maintained on behalf of a lender to a “Company” fund and devised an accounting mechanism to disguise at least one instance where money was improperly taken from the account; and that he was also aware that investments were being used in ways that were inconsistent with what had been represented to “Company’s” investors.